Mario Tama
Rivian Autompotive (NASDAQ:RIVN) disclosed on Monday that it delivered 7,946 vehicles in Q1 to top the consensus estimate of 7,752. The electric vehicle maker produced 9,395 vehicles at its Normal, Illinois plant during the quarter vs. 8,752 consensus.
Looking ahead, Rivian Automotive (RIVN) said it is on track to produce 50K vehicles this year with production starting to ramp up. Rivian Automotive (RIVN) will report Q1 earnings on May 9 after the market closes.
Shares of Rivian fell 1.49% in premarket trading on Monday to $15.25 vs. the 52-week trading range of $12.58 to $47.70.
Rivian is one of the stocks on Seeking Alpha’s Catalyst Watch for the week.